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to get a reality check from stephen moore, a member of the wall street editorial board and author of "who's the fairest of them all?" . stephen, we have spent six month talking about this can't happen we can't go off the fiscal cliff. we've got to meet this deadline and now they are saying, it's not that bad. which is it? >> look, i don't think it's the end of the world and i think it would get resolved in the weeks ahead but it's a black eye for our whole political system. think about this. here we are two or three days away from the start of the year without any american business or investor or workerer knowing what the payroll tax is going to be, income tax is going to be, i mean, this just isn't a very good way to run a country and it's almost like banana republic politics. >> my dad used to say, no way to run a railroad. let's talk about a couple of things. this whole idea that tax rates on everyone will go up. does the irs, does the treasury department have the ability to sort of say, look, here's some guidance. keep withholding where it is? >> the irs is in turmoil right now. they
sustain the one-two punch is anybody's question. patti ann: joining us now is steve moore from the "wall street journal." hopefully he can give us some answers. good morning, steve. what is the most immediate impact in we go over the cliff? >> we are talking about january 2nd taxing rising on over a hundred million americans. this is a big sock to the wallet of americans of every income group. let's just talk about the middle class for a minute. for those earning about 45 to 75,000 a year they are looking at paying somewhere in the neighborhood of $2,500 a year more in taxes. it's not just the warn buffets and bill gates that will be hit by tax increases. the other part of the cliff that we don't talk that much about is the automatic spending cuts would take effect starting on january 2nd, an 8% reduction in major spending categories, national defense, many of what we call the domestic discretionary programs would also be hit. this is a big fiscal wallop to the economy and a lot of economists believe it could cause a double-dip recession. patti ann: on the other hand we are hearing from
with demi moore. her husband, ashton kutcher recently filed for divorce even though they've been separated for some time. that surprised her? >> yes. it was a year since they split. you know, it's been a very rocky year for demi moore. she turned 50, sources say she's really unhappy about aging and you can see that ashton wasn't the only young guy in her life. she's chased after voito schnabel. most disturbingly -- here she is partying away with stacey keebler who is 33. >> wasn't she running around like a little cat. >> that was kim kardashian maybe. >> demi, she's become estranged from her three daughters, especially her middle daughter, scout. she really has a very tough relationship with those girls right now. she even sat apart from them at the oldest -- youngest one's graduation earlier this year. demi's having a very hard time. >> let's hope she gets it together in 2013. meanwhile, let's talk a little bit about what you're calling the twilight cheating scandal. >> it wasn't just me calling it but "us weekly" did call that story, the biggest story of the year. we ran photos in the ma
hikes and spending cuts. joining us from washington, republican congresswoman shelly moore capito. were you privy to everything that was happening yesterday? >> i was shocked when we went into the conference at 7:45 and the speaker, after offering this serenity prayer, said merry christmas, you're going home, we're not putting the vote up, we don't have the votes. i was disappointed, quite frankly. >> really? is it overstating it to say that, you know, some people characterize it that the president was not accepting the surrender of the gop anyway, so why not keep fighting? >> we needed to strengthen the speaker's hand in negotiations and i think by saying and reiterating that we didn't want taxes to go up by 98.1% of the population i think is a strong statement for us to go. we had -- would be moving one of the rates, and i think that that was a concession on our maert and i was disappointed we weren't able to send that over to the senate and say to them, all right. your turn. >> yeah, i know. but all these games. everybody knew the senate wouldn't take it up. the president promised he
security analyst ryan moore. ryan good to have you on the show. five that you outline and i want to make sure we get to all five. start with the israel or iranian conflict, will that heat up. >> sure. israel has to stop or delay it and iran presidential election and when there is a political crisis you pick a fight with israel. >> eric: we need to point out not the president of iran that has the power but the mullahs. >> right. >> eric: chaos in syria spread? >> it is already spreading. al-qaida operatives trying to carry out terrorist attack in jordan and face a, the dictator that is a proxy of iran and fighting militants and muslim brotherhood. >> eric: how does it theten america. >> this is a stronghold for al-qaida there. is plenty of good rebel to work with and we didn't . secular rebels don't control what is happening on the ground. >> eric: serious threat. middle eastern oil turmoil. what can happen. >> everyone focus on the conflict of iran and israel. but there is a conflict between saudi arabia and iran . the fact that iranian tried to launch a cyber attack. shows that saudi ar
Search Results 0 to 4 of about 5